Y Intercept Hong Kong Ltd Buys 47,210 Shares of Advance Auto Parts, Inc. $AAP

Y Intercept Hong Kong Ltd grew its stake in shares of Advance Auto Parts, Inc. (NYSE:AAP) by 257.8% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 65,525 shares of the company’s stock after acquiring an additional 47,210 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Advance Auto Parts were worth $3,046,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of AAP. Pzena Investment Management LLC grew its position in shares of Advance Auto Parts by 31.8% during the 1st quarter. Pzena Investment Management LLC now owns 4,312,508 shares of the company’s stock valued at $169,093,000 after acquiring an additional 1,041,611 shares during the period. Federated Hermes Inc. grew its position in shares of Advance Auto Parts by 302.5% during the 1st quarter. Federated Hermes Inc. now owns 1,358,764 shares of the company’s stock valued at $53,277,000 after acquiring an additional 1,021,181 shares during the period. Invenomic Capital Management LP grew its position in shares of Advance Auto Parts by 281.2% during the 1st quarter. Invenomic Capital Management LP now owns 600,895 shares of the company’s stock valued at $23,561,000 after acquiring an additional 443,251 shares during the period. Jump Financial LLC bought a new position in shares of Advance Auto Parts during the 1st quarter valued at approximately $15,882,000. Finally, Estuary Capital Management LP lifted its stake in shares of Advance Auto Parts by 31.7% during the 1st quarter. Estuary Capital Management LP now owns 1,258,270 shares of the company’s stock valued at $49,337,000 after buying an additional 303,153 shares in the last quarter. 88.70% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. UBS Group set a $40.00 price target on shares of Advance Auto Parts in a research note on Thursday. Weiss Ratings restated a “sell (d)” rating on shares of Advance Auto Parts in a research note on Wednesday, October 8th. DA Davidson set a $65.00 price target on shares of Advance Auto Parts in a research note on Thursday, August 14th. Mizuho upped their price target on shares of Advance Auto Parts from $44.00 to $54.00 and gave the company a “neutral” rating in a research note on Friday, August 29th. Finally, Wolfe Research assumed coverage on shares of Advance Auto Parts in a research note on Thursday, September 18th. They set a “peer perform” rating on the stock. One research analyst has rated the stock with a Buy rating, eighteen have assigned a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus price target of $51.46.

Advance Auto Parts Stock Performance

NYSE AAP opened at $50.92 on Friday. Advance Auto Parts, Inc. has a 1 year low of $28.89 and a 1 year high of $70.00. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.27 and a quick ratio of 0.49. The stock has a market capitalization of $3.05 billion, a PE ratio of -7.99 and a beta of 1.08. The company’s 50 day simple moving average is $58.29 and its two-hundred day simple moving average is $51.49.

Advance Auto Parts (NYSE:AAP) last posted its earnings results on Thursday, October 30th. The company reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.18. Advance Auto Parts had a negative net margin of 4.37% and a negative return on equity of 1.97%. The business had revenue of $2.04 billion for the quarter, compared to analysts’ expectations of $2.02 billion. During the same period in the prior year, the company posted ($0.04) EPS. The business’s revenue for the quarter was down 5.2% compared to the same quarter last year. Advance Auto Parts has set its FY 2025 guidance at 1.750-1.850 EPS. Analysts predict that Advance Auto Parts, Inc. will post -0.46 earnings per share for the current fiscal year.

Advance Auto Parts Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 23rd. Shareholders of record on Friday, January 9th will be paid a $0.25 dividend. The ex-dividend date is Friday, January 9th. This represents a $1.00 annualized dividend and a yield of 2.0%. Advance Auto Parts’s dividend payout ratio is currently -15.70%.

About Advance Auto Parts

Advance Auto Parts, Inc provides automotive replacement parts, accessories, batteries, and maintenance items for domestic and imported cars, vans, sport utility vehicles, and light and heavy duty trucks. The company offers battery accessories; belts and hoses; brakes and brake pads; chassis and climate control parts; clutches and drive shafts; engines and engine parts; exhaust systems and parts; hub assemblies; ignition components and wires; radiators and cooling parts; starters and alternators; and steering and alignment parts.